Quarterly Theory Opening Prices

🔹 Quarterly Theory Opening Prices (QTOP) Indicator
This indicator plots critical institutional price levels based on Quarterly Theory principles. It identifies and displays key opening prices from various timeframes — including Midnight Open, True Session Open (AM & PM), True Week Open, and True Month Open — all dynamically calculated and timezone-aligned.

These levels are widely used by professional traders to anticipate price reactions around session changes. The indicator is highly customizable, giving users visual and analytical access to these levels on any timeframe and market.

🔍 What This Indicator Does
Midnight Open (MO): The open of the new calendar day, often used in intraday trading for anchoring daily ranges.

True Session Open (TSO AM/PM): Reflects institutional trading session starts, designed to highlight liquidity injections during early U.S. market hours (07:30 and 13:30 EST).

True Week Open (TWO): Marks the institutional open for the trading week, beginning on Monday at 18:00 EST (Sunday 6 PM), used for weekly bias.

True Month Open (TMO): Accurately locates the first institutional trading Monday after NFP for monthly opening flow analysis — a rarely implemented but critical level for swing and macro traders.

🎯 Who It’s For
This indicator is designed for:

Intraday traders looking for early-session range anchors and reversal zones.

Swing traders using weekly/monthly opens as structural bias points.

Liquidity-based traders monitoring reactions around key institutional price levels.

🔒 Why It's Closed-Source
This script contains:

A custom-built session detection engine based on timestamp conditions instead of bar-based time filtering, ensuring more accurate plotting across timezones.

Dynamic label and line positioning logic that adapts based on timeframe and chart zoom, minimizing overlap and improving readability.

Proprietary open-level offset calculation logic to enhance visibility and prevent plotting distortion across devices and brokers.

Because these features go beyond existing open-source implementations, and required extensive backtesting and refinement, the source code has been protected.

⚙️ How to Use
Use on any chart and timeframe.

Adjust session settings via the UI panel.

Works best on instruments aligned with New York trading hours, but timezone support is included.

Use plotted levels to define trading ranges, support/resistance, or reference for breakout/reversal strategies.

📌 Note: This tool is not a buy/sell signal generator — it’s designed to provide reliable reference levels around which you can apply your own strategy.